By James Picerno: Is asset allocation unimportant after all in the grand scheme of managing wealth? Yes, according to a new study the Center for Retirement Research at Boston College. "The focus on asset allocation is misplaced," advises "How Important Is Asset Allocation To Financial Security In Retirement?" On first glance this finding sounds like a knock-out blow to all the studies through the years that tell us that asset allocation is a critical variable for portfolio management. Should we now abandon the idea? In a word, no.The paper appears to offer radical advice by way of a shocking disclosure. In fact, the study's not telling us anything that wasn't already obvious. The authors demonstrate that a number of tools and techniques beyond asset allocation are of greater influence on the outcome of financial planning decisions over long periods of time-particularly for investors with relatively small portfolios. The message is that investingComplete Story »

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The Social Security Administration is learning what financial educators have known for decades: good information is helpful but does not always lead to useful action. Now, in a bid to help individuals make smarter decisions about their benefits and retirement income overall, a push is on to broaden the regular Social Security statements that all taxpayers receive.

The Social Security Administration is learning what financial educators have known for decades: good information is helpful but does not always lead to useful action. Now, in a bid to help individuals make smarter decisions about their benefits and retirement income overall, a push is on to broaden the regular Social Security statements that all taxpayers receive.

By Portfolioist:We are all familiar with the traditional idea of basic budgeting: you set up a plan for how much money you will save and spend each month. “Risk budgeting” is much the same idea for investors, but involves setting up a plan for how much risk you plan on taking with your long-term investments.

With more than 80% of America’s non-farm workers laboring under non-existent wage growth, and with central bank policies serving not only to exacerbate the gap between the wealthy and everyone else while wiping out what’s left of the Middle Class in the process, but also creating conditions whereby pension funds are

The Great Recession came with a variety of silver linings, including a renewed commitment to save, reduce debt and focus on core values like relationships and experiences. Less noted has been a salutary effect on older workers and the employers that are aware enough to value them. Tough times generally have forced 60-plus workers to stay on the job longer in order to repair their ravaged savings. Many also have hung on to keep health insurance and bridge to the better Social Security benefits that come with reaching “normal” retirement age, which is slowly being pushed out into the future.

The Great Recession came with a variety of silver linings, including a renewed commitment to save, reduce debt and focus on core values like relationships and experiences. Less noted has been a salutary effect on older workers and the employers that are aware enough to value them. Tough times generally have forced 60-plus workers to stay on the job longer in order to repair their ravaged savings. Many also have hung on to keep health insurance and bridge to the better Social Security benefits that come with reaching “normal” retirement age, which is slowly being pushed out into the future.

The basics of retirement planning are not tricky. Save 10-15% of your income for about 40 years working career (likely over 15%, if you don’t have some pension or social security – with some pension around 10+% may be enough depending on lots of factors). That should get you in the ballpark of what you need to retire.